Integra LifeSciences Holdings Corporation has made the following changes, all effective January 3, 2012. The Board appointed Peter Arduini as President and Chief Executive Officer. In addition, the Board elected Mr. Arduini to a newly-created position on the Board. Stuart Essig has been appointed as Executive Chairman of the Board. Richard Caruso, founder of Integra LifeSciences and its Chairman of the Board since its inception, will remain as a director of the company. Jack Henneman, the Company’s Chief Financial Officer, will report to Mr. Arduini.
Since Mr. Arduini joined Integra in November 2010 as President and Chief Operating Officer, he has been responsible for Integra’s operations, including worldwide sales and marketing, research and development, manufacturing, quality and regulatory activities, and human resources. Before joining Integra, Mr. Arduini was President of Medication Delivery at Baxter Healthcare, a $4.8 billion global business of Baxter International. Prior to joining Baxter in April 2005, he worked for General Electric Healthcare, where he spent much of his 15 years in a variety of management roles overseeing both domestic and global businesses. Mr. Arduini received his bachelor’s degree in marketing from Susquehanna University and a master’s in management from Northwestern University’s Kellogg School of Management.
“We are pleased to promote Pete to Integra’s President and Chief Executive Officer, the culmination of a rigorous succession process that we initiated a couple years ago,” said Mr. Essig. “Pete is an enormously talented executive with a truly global perspective. He has won the respect and loyalty of our Board, management team, employees and customers, and is the right leader to drive the growth and profitability of this great company for years to come. I have thoroughly enjoyed my tenure at Integra and I am committed to supporting Pete in my new role.”
“Stuart’s 14 years as CEO transformed Integra from a true medical technology start-up to the diversified and profitable surgical products company that it is today,” said Dr. Caruso. “During Stuart’s tenure, the company grew from $15 million in annual revenues to $733 million in 2010 and from 130 employees to more than 3,300. Few CEOs in this industry have had so much success over so many years. I am pleased that Stuart and the Board accepted my recommendation and nobody is better suited to succeed me as Chairman of the Board.”
“I am honored that the Board of Directors has selected me as CEO to lead this team. Under Stuart’s leadership, the growth of Integra has been a great business success story and the two of us will continue to work closely to lead Integra into our next phase of growth,” said Mr. Arduini. “I am delighted that he will serve as Executive Chairman to help provide leadership and guidance to the company.”
Source: Integra Lifesciences